Globus Medical (NYSE:GMED) Raised to “Strong-Buy” at Wall Street Zen

Globus Medical (NYSE:GMED) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Several other research firms have also commented on GMED. Truist Financial reissued a “buy” rating and set a $105.00 target price (up from $93.00) on shares of Globus Medical in a research note on Tuesday, November 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their target price on Globus Medical from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Canaccord Genuity Group boosted their target price on Globus Medical from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Barclays increased their price target on Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.11.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $87.29 on Friday. The stock has a fifty day moving average price of $82.71 and a two-hundred day moving average price of $66.80. The firm has a market cap of $11.68 billion, a P/E ratio of 28.16, a PEG ratio of 1.55 and a beta of 1.06. Globus Medical has a 1 year low of $51.79 and a 1 year high of $94.93.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The company had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, research analysts predict that Globus Medical will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other news, SVP Kelly Huller sold 7,500 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total value of $675,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kyle Kline sold 18,542 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $90.00, for a total value of $1,668,780.00. The SEC filing for this sale provides additional information. Insiders sold a total of 86,042 shares of company stock worth $7,419,030 over the last 90 days. 18.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globus Medical

Several institutional investors have recently bought and sold shares of GMED. Advisory Services Network LLC acquired a new position in shares of Globus Medical during the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after acquiring an additional 197 shares during the period. Advisors Asset Management Inc. acquired a new stake in Globus Medical during the second quarter worth $28,000. First Horizon Corp bought a new stake in Globus Medical in the third quarter valued at about $31,000. Finally, Parallel Advisors LLC lifted its position in shares of Globus Medical by 45.1% during the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after buying an additional 173 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Company Profile

Globus Medical, Inc (NYSE:GMED) is a leading medical device company specializing in musculoskeletal solutions for spine and orthopaedic applications. Founded in 2003 by David C. Paul and headquartered in Audubon, Pennsylvania, the company develops, manufactures and markets implantable devices and surgical instruments designed to treat spinal disorders and promote bone healing. Its product portfolio encompasses solutions for minimally invasive and open surgical procedures, including interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.

In addition to its core spine business, Globus Medical has expanded into robotics and navigation systems to support precision and efficiency in the operating room.